Good morning Greenies. Welcome to The Greenfields, the place you go when you need to know stuff about the cannabis business.

What’ve we got for you today?

1. Craft Cannabis Crowdfunding 💰

2. Althea Group Higher (😉) Stock Price 📈

3. NZ sort of gets home grow 🌱

4. Photos of People (or Cats) Surrounded by Cannabis 📸

5. MGC Pharma goes to the UK 🇬🇧

Craft Cannabis Crowdfunding

WA craft cannabis cultivators Cannaponics have launched a crowdfunding campaign to complete their 3,600 square metre grow facility.

Cannaponics describe themselves as a craft medicinal cannabis cultivator. They are aiming to produce dried flower and oils for the medicinal cannabis market.

Their facility will run on 100% renewable energy and some of the funding will go to complete a solar farm. Cannaponics claim they “do cannabis differently”…

The most they can raise through the crowdfunding platform is $5 million. They have previously raised $2 million from the WA state government and $10 million privately.

Cannaponics also have an MOU with Avacare Health to construct a pharmaceutical manufacturing facility at the same site as their grow operation. Avacare will fund the construction and operate the facility.

Expressions of interest for the crowdfunding campaign close in about 18 days.

Althea Group Higher (😉) Stock Price

Althea Group (ASX:AGH) had record cash receipts of $9.24 million and their first monthly profit in the March quarter of 2023. The news sent their stocks higher by about 17%.

Recreational division Peak grew by 55% to $5.15 million. Althea Groups medicinal division only saw 11% growth for the quarter.

Peak produces recreational cannabis products like beverages and tinctures that are re-branded by other business. They are primarily focused on the Canadian market.

Canadian recreational cannabis has been struggling recently with a number of recreational producers going out of business due to high excises and falling cannabis prices.

Althea’s medicinal group is doing well from sales of their soft-gel capsule Althea CBD25. Althea says more doctors are educated about the benefits of the capsule and they plan to launch another soft-gel capsule soon.

Photos of People (or Cats) Surrounded by Cannabis

Todays Photos of People (or Cats) Surrounded by Cannabis is courtesy of the Teamsters Cannabis Workers Union and features proud union member Jason.

Good for you Jason. That’s a shitload of cannabis.

If you'd like to see your photo in Photos of People (or cats) Surrounded by Cannabis share it with us on Twitter, Facebook, LinkedIn or Instagram.

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NZ sort of gets home grow

We finally have some cannabis news for our New Zealand Greenies!

Helius has received GMP certification that will allow it to sell dried flower alongside their medicinal cannabis oils.

This will make them the first New Zealand company to have dried flower products that are produced in New Zealand for sale. It’s about as close to home grow as most Kiwi’s will be getting for a while.

The certification opens up new markets for Helius in Australia and Europe.

Dr. Lenny's Lab

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Reply to this email with your questions and the best one will get an answer in an upcoming newsletter.

MGC goes to the UK

MGC Pharmaceuticals (ASX:MGC) has announced that they have approval to sell their CannEpil oral CBD treatment for Epilepsy in the UK.

It’s only available via ‘Named Patient Supply’ which is like the special access scheme medicinal cannabis is prescribed through in Australia. It allows doctors to prescribe medicines by request that aren’t fully licenced in the UK.

It’s positive news for MGC and for Epilepsy patients. About 50 million people worldwide are affected by epilepsy. Epidiolex is another CBD treatment for Epilepsy that has been on the market for a few years made $736.4 million in 2022 for Jazz Pharmaceuticals.

CannEpil will still need approvals in the UK to be prescribed as widely as Epidyolex is but this is promising news for MGC.

A Greenies review:

That’s your walk through The Greenfields of the cannabis industry today. We hope you've enjoyed it.

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DISCLAIMER: This newsletter is not financial advice. It is strictly educational and is not investment advice or a solicitation to buy or sell anything or to make any financial decisions. Please do your own research and do not buy or do anything dodgy.